Dynamic Technology Lab Private Ltd Reduces Position in Sun Communities, Inc. (SUI)

Dynamic Technology Lab Private Ltd decreased its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 47.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,054 shares of the real estate investment trust’s stock after selling 3,665 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Sun Communities were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Whitnell & Co. bought a new position in Sun Communities in the 3rd quarter worth about $139,000. Nationwide Fund Advisors grew its position in Sun Communities by 18.4% in the 2nd quarter. Nationwide Fund Advisors now owns 13,635 shares of the real estate investment trust’s stock worth $1,196,000 after purchasing an additional 2,122 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Sun Communities by 17.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 621,487 shares of the real estate investment trust’s stock worth $54,499,000 after purchasing an additional 92,444 shares during the last quarter. BlackRock Inc. grew its position in Sun Communities by 9.7% in the 2nd quarter. BlackRock Inc. now owns 5,132,844 shares of the real estate investment trust’s stock worth $450,100,000 after purchasing an additional 454,187 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Sun Communities by 70.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 589,768 shares of the real estate investment trust’s stock worth $51,717,000 after purchasing an additional 244,273 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Sun Communities, Inc. (NYSE SUI) traded up $0.66 during trading on Friday, hitting $93.73. 289,976 shares of the stock traded hands, compared to its average volume of 265,745. The company has a market capitalization of $7,436.82, a PE ratio of 22.86, a PEG ratio of 3.58 and a beta of 0.27. Sun Communities, Inc. has a twelve month low of $71.27 and a twelve month high of $93.98.

Sun Communities (NYSE:SUI) last posted its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.79. The business had revenue of $268.20 million during the quarter, compared to analysts’ expectations of $239.45 million. Sun Communities had a net margin of 7.37% and a return on equity of 2.76%. During the same period last year, the firm posted $1.13 earnings per share. analysts expect that Sun Communities, Inc. will post 4.16 earnings per share for the current year.

SUI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Sun Communities from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Friday, September 29th. Robert W. Baird restated a “buy” rating and issued a $95.00 target price on shares of Sun Communities in a research report on Friday, September 8th. BMO Capital Markets restated a “buy” rating and issued a $96.00 target price on shares of Sun Communities in a research report on Monday, October 23rd. ValuEngine upgraded shares of Sun Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Royal Bank Of Canada upped their target price on shares of Sun Communities from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Sun Communities currently has a consensus rating of “Buy” and an average target price of $92.29.

In other news, EVP Jonathan Colman sold 3,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $85.44, for a total value of $256,320.00. Following the completion of the transaction, the executive vice president now directly owns 33,985 shares in the company, valued at $2,903,678.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clunet R. Lewis sold 1,292 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $86.52, for a total transaction of $111,783.84. Following the completion of the transaction, the director now owns 18,800 shares of the company’s stock, valued at $1,626,576. The disclosure for this sale can be found here. Insiders sold 11,584 shares of company stock valued at $1,010,694 over the last quarter. Insiders own 4.15% of the company’s stock.

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Sun Communities Company Profile

Sun Communities, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company is a fully integrated real estate company, which, together with its affiliates and predecessors, has been in the business of acquiring, operating, developing, and expanding manufactured housing (MH) and recreational vehicle (RV).

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Institutional Ownership by Quarter for Sun Communities (NYSE:SUI)

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